Colonial River Investments LLC Increases Stake in Eli Lilly and Company (NYSE:LLY)

Colonial River Investments LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 276.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,011 shares of the company’s stock after purchasing an additional 1,477 shares during the quarter. Colonial River Investments LLC’s holdings in Eli Lilly and Company were worth $1,782,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mayflower Financial Advisors LLC raised its stake in shares of Eli Lilly and Company by 1.2% during the third quarter. Mayflower Financial Advisors LLC now owns 3,135 shares of the company’s stock valued at $2,777,000 after acquiring an additional 37 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Eli Lilly and Company by 4.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 22,780 shares of the company’s stock valued at $20,182,000 after purchasing an additional 916 shares during the last quarter. Alan B Lancz & Associates Inc. raised its position in Eli Lilly and Company by 1.5% during the 3rd quarter. Alan B Lancz & Associates Inc. now owns 1,730 shares of the company’s stock valued at $1,533,000 after purchasing an additional 25 shares during the last quarter. Ted Buchan & Co lifted its holdings in Eli Lilly and Company by 8.6% in the 3rd quarter. Ted Buchan & Co now owns 2,136 shares of the company’s stock worth $1,892,000 after buying an additional 170 shares during the period. Finally, Houlihan Financial Resource Group Ltd. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth approximately $447,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $831.54 on Friday. The firm’s 50-day moving average price is $896.31 and its 200-day moving average price is $867.53. The company has a market cap of $789.40 billion, a P/E ratio of 89.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LLY shares. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,008.41.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.